31st January 2013
Thursday, May 23rd, 2013
UniCredit to sell stake in Bank Pekao
Italian banking group UniCredit announced it would sell up to 9.1 percent in its Polish subsidiary Bank Pekao in an accelerated book-building process. If the whole stake is sold, UniCredit would be left with 50.1 percent in the Polish bank. It said it would not sell further stakes in Bank Pekao for at least a year.
Valued at Bank Pekao shares' closing price on Tuesday, the 9.1 percent stake is worth about zł.3.98 billion. Later on Wednesday, a source told the Polish Press Agency that a price of zł.155-158 per share could be expected in the Pekao stake sale.
From Warsaw Business Journal
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